Dear Whatahoot,
The small gigs scheme distributes royalties to PRS members who perform in folk clubs, festivals etc. The return is considerably greater each quarter than the initial joining fee in my experience.
All it requires is that you have composed/arranged at least one song that has been recorded and registered as your work. Every time you perform that song ( or someone else does, based on your arrangement) a royalty is paid.You do have to complete some paperwork each quarter, but it is not an onerous task.
The returns are not of Paul McCartney proportions, but I wouldn't expect them to be as my fan club is minuscule in comparison. But I don't believe in throwing good money away when I have worked long and hard for it in research & musical arrangement. I think I deserve some rewards for my labours.
Mary